PRAYAGRAJ, June 29 -- The land circle rates are set to be revised, with a survey currently underway, officials said. According to reports, not only area specifications but also the facilities provided in a housing colony or high-rise apartment will be a factor in determining the new circle rates. According to AIG (stamp) Rakesh Chandra, a survey is being conducted before the new circle rates are finalised. "We are trying to reduce the difference between circle rate and market price so that people can get a full loan at the market price of an apartment," he added. The new factor would mean that an apartment with premium facilities would attract a higher circle rate. The local registrar's office has adopted the Ghaziabad model to fix the new circle rates in an attempt to bring uniformity to property costs. In the posh Civil Lines, the existing circle rate was fixed at Rs 1 lakh per square meter. As such, a property on 100 square metre would cost around Rs 1 crore. However, apartments of similar sizes in the locality were being sold for Rs 2 crore to Rs 2.5 crore. In such a case, buyers face difficulty in getting loans as banks often sanction loans of amounts to a maximum of 15 per cent over the circle rate. After completion of the survey and finalisation of new rates, a meeting will be held under the chairmanship of the district magistrate, wherein objections will be sought from people. The officials said the new circle rates might be released next month....